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Touring Capital

Touring Capital is an early-growth venture firm investing in AI software companies. Launched in September 2023 by three investors who had worked together at Microsoft's M12 and SoftBank, it closed an oversubscribed US$330 million first fund in September 2025.

Venture CapitalFounded 2023touringcapital.com
US$330Moversubscribed Fund I, closed September 2025Fortune
12investments made by the Fund I close, with five up-rounds and one exitPR Newswire

The people

Ray CaoVenture Partner · 1 TechTO talk
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Nagraj KashyapCo-founder and general partnerprofile coming
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Priya SaiprasadCo-founder and general partnerprofile coming
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Samir KumarCo-founder and general partnerprofile coming

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Working at Touring Capital

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About

Touring Capital was launched in September 2023 by Nagraj Kashyap, Priya Saiprasad and Samir Kumar, who had spent more than a decade investing together — most recently at Microsoft's M12 and at SoftBank. The firm invests at the early-growth stage in companies approaching product-market fit, and restricts itself to software built on AI. Its first fund closed oversubscribed at US$330 million in September 2025, by which point the firm had made twelve investments with five up-rounds and one exit: SafeBase, whose US$33 million Series B it led, was acquired by Drata within ten months. Other portfolio companies include Netradyne in fleet safety, Daloopa in financial data, Numa in dealership automation, CuspAI in materials discovery, and SafelyYou, which uses AI to predict falls in senior living. Ray Cao, who presented at TechTO in 2014 as a founder of Exact Media, is a venture partner.

Backers

A fund rather than an operating company. Its limited partners are not named in the Fund I announcement or in the coverage of it.

Quick answers

What does Touring Capital invest in?

AI software companies at the early-growth stage — its own framing is teams approaching product-market fit in their category, in software that uses AI to change how work gets done.

How large is the fund?

Fund I closed oversubscribed at US$330 million in September 2025. The firm reported twelve investments made by that point, five up-rounds and one exit.

Who founded it?

Nagraj Kashyap, Priya Saiprasad and Samir Kumar, who launched the firm in September 2023 after more than a decade investing together, most recently at Microsoft's M12 and SoftBank.

Who from Touring Capital is in this directory?

Ray Cao, a venture partner. He took the TechTO stage in November 2014 as a founder of Exact Media, nine years before this firm existed.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 29, 2026